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Boyuan Provides Update on Indenture Default Due to Late Annual Filing

TORONTO, Nov. 14, 2012 /CNW/ - Boyuan Construction Group, Inc., TSX: BOY, BOY.DB, BOY.DB.A), a fast-growing construction company in China of commercial,
residential and municipal infrastructure projects, announced today that
further to its press release of October 4, 2012, as a consequence of
the delay in filing its audited annual financial statements for the
fiscal year ended June 30, 2012 and related Management's Discussion &
Analysis, Annual Information Form and CEO and CFO certification of
filings (collectively, the "Annual Filings"), the Company has received from the trustee a notice dated November 8
under its trust indenture dated February 27, 2009 with respect to the
11.75% secured convertible debentures due February 28, 2013 (the "2009 Indenture") and a notice dated November 8, 2012 under its trust indenture dated
November 3, 2010 with respect to the 10% unsecured subordinated
convertible debentures due October 31, 2015 (the "2010 Indenture").

The trustee has stated in the notices that in the event the default is
not cured within 30 days of the respective dates of the notices, the
trustee will be required to send a notice of default to the debenture
holders under the 2009 Indenture and the 2010 Indenture. The trustee's
notice of default will trigger the right of the debenture holders to
demand accelerated repayment of the debentures in accordance with the
terms of the 2009 indenture and the 2010 Indenture, respectively. The
Company is working diligently with its auditors to resolve any
outstanding issues relating to the Annual Filings.

About Boyuan Construction Group, Inc.

Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the
business of commercial building and residential construction, municipal
infrastructure and engineering projects. In its last three fiscal
years ending June 30, 2011, Boyuan completed more than 80 projects for
a number of private and public sector clients. Boyuan's current
project backlog includes residential, commercial, industrial and
mixed-use developments. From its operating bases in Zhejiang Province
and in Hainan Province, Boyuan focuses on construction projects in
China's fast-growing regions of the Yangtze River Delta, Hainan
Province and Shandong Province. For more information visit www.boyuangroup.com.

Certain information contained in this press release constitutes
forward-looking information, which is information relating to future
events or the Company's future performance and which is inherently
uncertain. All information other than statements of historical fact
may be forward-looking information. Forward-looking information is
often, but not always, identified by the use of words such as "seek",
"anticipate", "budget", "plan", "continue", "estimate", "expect",
"forecast", "may", "will", "project", "predict", "potential",
"targeting", "intend", "could", "might", "should", "believe" and
similar words or phrases (including negative variations) suggesting
future outcomes or statements regarding an outlook. Forward-looking
information contained in this press release includes, but is not
limited to, management's expectation to make the Annual Filings and
consequences of failure to remedy the default under the 2009 Indenture
and the 2010 Indenture during the cure periods. Forward-looking
information involves known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ materially
from those anticipated in such forward-looking information. The
Company believes the expectations reflected in the forward-looking
information are reasonable but no assurance can be given that these
expectations will prove to be correct and readers are cautioned not to
place undue reliance on forward-looking information contained in this
press release. Some of the risks and other factors which could cause
results to differ materially from those expressed in the
forward-looking information contained in this press release include,
but are not limited to: risk of the Company being unable to make the
Annual Filings within the cure periods, risk of the repayment of the
debentures being accelerated, risk of macro-economy cycle, risk from
competition, risk from insufficient marketing to secure new projects,
risk in obtaining additional financing, risk involving permits and
licences, reliance on key management member, risk from supply of raw
materials, risk of financial leverage, risk of bad debts in accounts
receivables, risk involved in real estate development, foreign exchange
fluctuations, political and economic conditions in China and other
risks included in the Company's AIF for the fiscal year ended June 30,
2011 and in the Company's public disclosure documents filed with
certain Canadian securities regulatory authorities and available at
www.sedar.com. The forward-looking information contained in this press
release are made as of the date hereof and the Company undertakes no
obligation to update publicly or revise any forward-looking
information, whether as a result of new information, future events or
otherwise, except as otherwise required by law.